The Austrian youth employment strategy and social dimension of the EMU, highlights of the May EESC plenary session

At its upcoming plenary session of 22-23 May, the European Economic and Social Committee will host a debate with Vincent Chauvet and Martin Wittenberg, initiators of the ongoing European Citizens' Initiative, "One single tariff". Another highlight of the session will be a discussion with the presidents of Austrian social partner organisations and European Commission Vice-President Maroš Šefčovič on youth employment and Austrian best practice.

It is time to build the social pillar of the EMU within the framework of a social Europe, without which citizens' adhesion to the European project as a whole will remain at risk. The EESC's opinion is likely to recommend the launch of a new European Social Action Programme with tangible measures to develop social governance and participatory ownership of the European project. Two new exploratory initiatives are proposed: the issuance of European Social Bonds financed, owned, managed and supervised transparently by civil society stakeholders; the setting-up of a European Education Network for Unemployed Workers.

Social Investment Package

According to the EESC, the question of financing for the Social Investment Package remains unresolved. New sources of revenue for public budgets should lead to a proper implementation of policy priorities towards social investment and strengthening social policy in the Member States. Without adequate funding, it will remain empty words.

Where is the Euro headed?

The international economic and financial crisis exposed the structural limitations and contradictions in EMU, depriving the euro of its propensity to attract. The EESC believes that the best way to complete the monetary union, avoid recession and reduce national debt is to reverse the "stability for growth" principle and facilitate a new pact for growth, employment and stability, while involving the social partners. These are the EESC's four recommendations for completing the euro framework: establish EU economic governance for growth; create a system of monetary and financial governance to complete the ECB's mandate and the banking union; move towards a political and social union; and strengthen the international role of the EU and global governance.

A deep and genuine Economic and Monetary Union

The EESC feels that the Commission Blueprint may prove a historic turning point provided that the Council finally musters the courage and the will necessary to adopt and put into effect the provisions that will help to achieve the stated objectives swiftly. To achieve genuine EMU, the EESC urges to launch immediately a European growth initiative, implement a solution to the debt issue, and complete the single market and banking union. In the medium-long term, possibly with changes to the Treaty, it is necessary to establish genuine EU economic governance, complete the mandate of the ECB, establish fiscal, social and political union, and give the EU a more representative role in international bodies.

Smart border package

Following its opinion, the EESC will demand that the new Entry/Exit System for EU borders do not affect third-country nationals' travel and willingness to travel to the EU, and that fundamental rights be fully respected.

The green economy - promoting sustainable development in Europe

In its opinion the EESC stresses that developing an inclusive green economy will be Europe's main challenge in the coming years if it wants to remain a global economic power. The EESC advocates a new development model that prioritises public investments and offers incentives for businesses to invest in "green" infrastructure and step up research, development and innovation efforts for a sustainable, competitive and resilient economy. Putting green economy into practice helps promote production and create jobs in order to emerge from the current economic crisis.

The European Economic and Social Committee represents the various economic and social components of organised civil society. It is an institutional consultative body established by the 1957 Treaty of Rome. Its consultative role enables its members, and hence the organisations they represent, to participate in the EU decision-making process. The Committee has 344 members from across Europe, who are appointed by the Council of the European Union.